83% of Financial Advisors believe Technology is Key to Business Support and Growth


A recently released study conducted by Environics Research for Investment Planning Counsel (IPC) provides new insights into how financial advisors are growing their business over the course of the COVID-19 pandemic. Advisors are accelerating their adoption of technology; and want stronger support from their dealers to help improve operational efficiencies and manage relationships with clients.

Advisors are seeing increased challenges as they navigate COVID-19 and the resulting impacts on their practices

The study, which heard from 358 independent financial advisors, revealed that advisors are prioritizing technology when looking to their dealers for support.

“Advisors are seeing increased challenges as they navigate COVID-19 and the resulting impacts on their practices,” explains VP of Financial Services at Environics Research Robert Stel. “This is causing them to place higher value on the technology they have access to in running their practices, and is creating real opportunity for brands that can provide better technology – particularly resources that help advisors achieve additional efficiency or credibility in supporting their clients.”

The roughly two-thirds of advisors who believe they’re likely to switch dealers at some point in the future also view technology as a key attribute in evaluating dealers that they might work with. Some key findings of the study include:

  • 83 percent of advisors consider dealer-supplied technology – that will help them run their business efficiently – as very or extremely important to their growth. This is followed closely by efficient operations and dealer platforms.
  • 79 percent say seamless access to services for clients, supported by technology, is either very or extremely important.
  • Although advisors rate technology that enhances business efficiency as the most important support area for growth, only 43 percent are satisfied with the technology support they receive.
  • Millennial advisors are more likely to consider technology that supports their efficiency as highly important (92%), compared to Boomer advisors (71%).


About Investment Planning Counsel

Investment Planning Counsel Inc. (IPC) is an integrated wealth management company founded in 1996. IPC supports advisors in delivering a distinctive client service experience by providing client-focused advice that helps Canadians live their dreams. With $27.5 billion in assets under administration, IPC is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IPC Private Wealth is a program offered by IPC Securities Corporation, a subsidiary of Investment Planning Counsel.

Learn more about the IPC


About the Environics Research Survey

The research study was conducted for IPC by Environics Research. It included a total of 358 independent financial advisors, with representation by advisor type (IIROC and MFDA advisors), region, language and assets under management. All participating advisors were members of the Environics Advisor Perception Panel.

Find out how Environics can help your organization

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